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of <h1>India Announces Auction of New 5-Year Government Stock Worth Rs. 8,000 Crore; RBI to Conduct Auction on May 14, 2009.</h1> The Government of India has announced the sale of a new 5-year government stock worth Rs. 8,000 crore, to be auctioned by the Reserve Bank of India (RBI) on May 14, 2009. The stock will be sold via a yield-based auction using a uniform price method, with up to 5% reserved for non-competitive bidders, including eligible individuals and institutions. The stock's tenure begins on May 15, 2009, with repayment due on May 15, 2014. Interest will be paid semi-annually. Non-competitive bidding is open to certain investors, with specific eligibility and operational guidelines outlined by the RBI.
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